An Arizona-based vertically integrated cannabis company is bringing its $500 million war chest and rolling up marijuana dispensaries and grow/manufacture operations on the East Coast with an agreement to acquire a local company with marijuana licenses in Delaware, Maryland, New Jersey and Pennsylvania.
Phoenix-based Harvest Health & Recreation announced the deal to acquire CannaPharmacy Inc. in a press release, Tuesday. Terms of the deal, which is subject to state regulatory approval, were not disclosed. CannaPharmacy operates in Pennsylvania as Franklin Labs and in New Jersey as Garden State Dispensary.